2015 Old Main St

Maysville, KY 41056

$77,500B-

4 bd · 2.0 ba · 3,520 sqft · Built — · Other · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,366/mo
• Mortgage (P&I): −$406
• Tax + insurance: −$51
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $622/mo
• Annual: $7,458/yr
• Cap rate: 15.92%
• Cash-on-cash: 34.37%
• DSCR: 2.53
• 1% rule: 1.76%
• Cash to close: $21,700

Investor read

• This is a 4-bed/2.0-bath other listed at $78k.
• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $536 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#325 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Mason County (town): math 25% / reading 39% proficiency, ranked #92 of 165 in KY (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mason County Intermediate School (math 27% / reading 33%, grade F, #388 of 676 statewide, top 58%, 540 students, 68% FRL); Mason County Middle School (math 24% / reading 43%, grade F, #105 of 217 statewide, top 51%, 585 students, 66% FRL); Mason County High School (math 22% / reading 42%, grade F, #97 of 254 statewide, top 46%, 841 students, 57% FRL).
• Market conditions: 35 active listings in the ZIP; 30 units permitted in Mason County in 2024 (0 in 5+ unit buildings).
• Mason County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.9% vs local median 4.0% in Maysville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 33% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.